WHAT IS A BID BOND? Submitted as part of the bidding documents, a bid bond guarantees to the project owner that the contractor
- can comply with the bid contract and can accomplish the job as laid out in the contract;
- has the capability to take on and implement the project once selected during the bidding process; and
- is financially stable and has the necessary resources to take on the project.
WHAT IS A NON-COLLUSION AFFIDAVIT? Submitted as part of the bidding documents, a Non-Collusion Affidavit
- states that the bid or proposal is genuine;
- states that the bid or proposal is not done in the interest or on behalf of any unnamed person;
- certifies that the bidder has not asked competitors to refrain from bidding;
- certifies that the bidder has not conspired with or solicited another company to create a fake bid for comparative purposes; and
- certifies that the bidder has not conspired with a competitor or other company to create an unfair advantage over the other bidders.